432 Shares in Wells Fargo & Company (NYSE:WFC) Acquired by McClarren Financial Advisors Inc.

McClarren Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 432 shares of the financial services provider’s stock, valued at approximately $30,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hidden Cove Wealth Management LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $390,000. Van ECK Associates Corp purchased a new position in Wells Fargo & Company during the fourth quarter valued at $4,342,000. Allspring Global Investments Holdings LLC grew its holdings in Wells Fargo & Company by 14.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 445,042 shares of the financial services provider’s stock valued at $31,237,000 after purchasing an additional 56,458 shares during the period. Avidian Wealth Enterprises LLC grew its holdings in Wells Fargo & Company by 7.4% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 8,763 shares of the financial services provider’s stock valued at $616,000 after purchasing an additional 603 shares during the period. Finally, Kentucky Trust Co purchased a new stake in Wells Fargo & Company in the fourth quarter worth about $806,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 0.5 %

NYSE WFC opened at $79.22 on Thursday. The stock has a 50 day moving average price of $74.08 and a 200-day moving average price of $65.78. Wells Fargo & Company has a one year low of $47.59 and a one year high of $81.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market capitalization of $263.76 billion, a P/E ratio of 14.72, a P/E/G ratio of 1.22 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the business earned $0.86 earnings per share. Wells Fargo & Company’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.02%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of recent research reports. Citigroup boosted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Barclays upped their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Truist Financial lifted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, UBS Group upped their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and a consensus price target of $73.39.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.